 Posted: Tue Jun 21, 2005 2:41 am Subject: Debt Glossary for alphabet "G" |
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Hi,
I have enlisted all the major terminologies related to debt under alphabet G below -
Garnishment: A court order to an employer to withhold all or part of an employee's wages and to send the money to the court or to the person who won a lawsuit against the employee. This is a court-ordered process that takes property from a person to satisfy a debt.
Gross Monthly Income: The salary which an individual earns per month, before any taxes or expenses are deducted.
Gross Salary: The entire amount of salary earned before taxes and other deductions are made. The gross salary is different from the net salary or the take home pay, which is the amount of salary after taxes and other deductions are made. The gross and net salary is a major consideration on the amount of loan an individual can be granted.
Goals: This is a reference to a financial goal, which relates regarding the goals you have set for your life and the ways and means to achieve the mark. A goal is an aspiration and target that one desires to achieve someday.
Gold card: A premium card, the Gold card offers those with great credit ratings a much higher limit than your every day credit card. For e.g. if an average credit card limit is $2000 the average Gold card limit is likely to be $6000.
Grace period: A time period when a lender will give you as a grace during which you are not charged interests and need not make payments.
Guarantee: This term means to be assured that something will come through, whether you get a low interest guarantee or a guaranteed approval.
Regards
Roxette
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roxette
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Joined: 18 Mar 2005
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